We’re dedicating this episode to a very special guest: YOU. Our mailbag is overflowing, so today we realized it was time to devote a whole episode to answering your burning questions. Scott has cash left over after he pays bills and maxes out his regularly scheduled savings contributions… should he open up a Roth IRA? How should Laura prioritize her savings goals: pay down debt, add to retirement accounts, or build her emergency funds? Tyler has been recruited by his local Edward Jones agent. Should he begin his career with them?
In our headlines segment, one recent piece asks the question, “Is your debt the driving factor behind your savings discussions?” We’ll tackle why that’s an issue, and how it can harm your long term plans. In our second headline we’ll look at some changes coming this year to health savings accounts (HSAs).
Later on, we’ll throw out the Haven Life Line to John, who wants to know how to invest his lump sum. Should he dollar cost average over the next year or dump his stash of money into his account at one time?
And don’t worry… we’ll still take some time for Doug’s trivia.
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- Is Debt Driving Your Savings Discussions? (Napa-Net)
- With HSA changes, here’s how to find the best option for clients (Financial Planning)
Are you looking to actually learn something?
- Scott has an extra $200 a month after his expenses and preset savings. Should he put it towards his mortgage, open a Roth IRA, or open a 592 or ESA for his two kids?
- Tyler has been recruited by a local Edward Jones agent, and he’s a little skeptical. What tips or advice can we give Tyler about becoming a financial advisor in the industry?
- Laura wants to know about prioritizing when it comes to debt, emergency funds, and retirement accounts. Which do you tackle first? How much attention do you give each one?
- Sarah writes in on behalf of her son-in-law. He’s working as a mechanical engineer and still has $20k in student loans he has to pay. He still has health insurance from his parents. Should he be picking up health insurance from his company at no cost to him so he can start contributing to the HSA?
- What is the largest index fund in the world, based on the amount of money it manages?
Haven Life Line
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- John wants to know if he should dollar cost average over the next year, or drop in his money lump sum. Thoughts?
Need help with your financial plan? Use this link to schedule a meeting with OG: StackingBenjamins.com/OG